Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,794 shares of the pharmaceutical company’s stock after selling 41 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Vertex Pharmaceuticals were worth $799,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VRTX. Brighton Jones LLC increased its position in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares in the last quarter. NBC Securities Inc. purchased a new position in Vertex Pharmaceuticals in the 1st quarter worth approximately $167,000. RFG Advisory LLC boosted its holdings in Vertex Pharmaceuticals by 12.1% in the 1st quarter. RFG Advisory LLC now owns 757 shares of the pharmaceutical company’s stock worth $367,000 after acquiring an additional 82 shares during the period. SeaCrest Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the 1st quarter worth approximately $370,000. Finally, Pines Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at approximately $205,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Scotiabank reduced their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Wall Street Zen lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. Finally, Royal Bank Of Canada dropped their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $493.81.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Down 1.4%

NASDAQ:VRTX opened at $403.30 on Monday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The firm has a market capitalization of $103.40 billion, a price-to-earnings ratio of 28.83 and a beta of 0.43. The stock has a fifty day simple moving average of $399.12 and a 200 day simple moving average of $442.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the company posted ($12.83) EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.